New American Funding’s partnership with Matic Insurance and OneSource Solution will provide insurance and home setup services for existing and new customers while NAF is processing the loan.
NAF Insurance and NAF Concierge will be integrated into NAF’s loan process to remove friction from the mortgage, home buying and moving experience, the California-headquartered lender said.
Mortgage customers can bundle food, wind, auto, pet, life and other personal lines of insurance through NAF Insurance, which is powered by Matic.
Borrowers can work with a NAF Concierge, powered by OneSource, to find local movers and set up key utilities like electricity, gas, and water. Services and support also include assistance with internet and TV services and help with smart home security systems, the lender said.
“Our goal has always been to fully support the homeownership experience for our customers. Adding these new valuable services will allow NAF to serve as a true home for our customers’ entire journey,” said Rick Arvielo, co-founder and CEO of NAF.
NAF has a servicing portfolio of more than 250,000 loans representing about $66.1 billion in value, according to the lender. Licensed in 50 states and Washington, D.C., the lender has 189 active branches nationwide with 1,696 sponsored MLOs, NMLS data showed.
In April, NAF announced it would enter the joint ventures arena to go after the purchase business market.
NAF was looking for a 50/50 joint venture between the California-headquartered lender for virtually any size real estate brokerage, a larger agent team, a new home builder and a wholly-owned mortgage business.
The firm ranked as the 32nd largest lender originating $4.7 billion in production volume in the first half of 2023, according to Inside Mortgage Finance (IMF). As with most lenders, NAF saw production drop 48.4% from the first six months of 2022.